Massimo Giachetti
U.S. President Joe Biden said on Sunday he’s stepping down from the presidential race, ending his reelection campaign after he lost the support of senior Democrats amid concerns over his ability to beat Donald Trump.
In a post on X, Biden wrote that he will continue in his role as the president until his term ends in January 2025 and will address the country next week.
Biden endorsed his vice president Kamala Harris to be the nominee of the Democratic Party this year.
Investors will be watching market reaction when Tokyo opens at 8 p.m ET. Bitcoin (BTC-USD) -1.6%, which is open continuously, sank before the Biden announcement and extended losses once the move was official.
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